Skip to main content

tv   Countdown to the Closing Bell With Liz Claman  FOX Business  February 16, 2016 3:00pm-4:01pm EST

3:00 pm
>> i want to point out president obama is going to be holding a news conference at 4:35 eastern this afternoon from california which he will address justice scalia's death. in the meantime, heading over to liz claman. liz: thank you so much, trish, the bears declawed after the long holiday weekend. wall street moving higher as oil falls, dow jones industrials up 195 points, hive the session, 221. today's rally quite the departure from the oil equity trade we've seen over the last few months. oil settled down today more than a percent and below $30 a barrel, but as wall street said we don't care, we're moving higher. we've got our cameras ready for breaking news not just on wall street but all over the country. in california, president obama meets with the leaders of the southeast asia nations. topic number one, china and artificial island.
3:01 pm
it is not just trade, it's security on the south china seas that's firmly on the agenda ahead of the president's news conference, just over 90 minutes away. we'll take it. to new york, hillary clinton expected to take the stage in harlem at any moment. she just met with arlsharpton and other civil rights leaders as she attempts to shore up the black vote ahead of the south carolina primaries. this is a live picture of donald trump in south carolina. he has yet -- he has yet to take another attack at ted cruz. though we believe right this minute he is? he is attacking ted cruz? right this minute. took him about 49 minutes. senator ted cruz, can't wait to hear what he says, he's live at this hour as well in south carolina. we're waiting to see if the texas senator will respond to donald trump's latest accusations and the one this morning on fox business that
3:02 pm
cruz has a, quote, mental problem. that's what donald trump said. and learned that justice antonin scalia will lie in repose friday at the supreme court. the funeral will take place saturday at the basilica as battle over his replacement rages with both sides crying foul. we'll let a judge judge the situation, former judge alberto gonzalez with me. less than an hour to the closing bell. let's start the "countdown." i mean, this bungee jumping with the markets continues. another triple digit move on the dow right now and the rest of the markets are grabbing the upside velocity. what has sparked the significant gain? when i say what's really the name? put three of them on the screen perhaps the follow through not
3:03 pm
just bad headlines but the dow winners of the day, caterpillar, cisco and boeing. and especially when we're talking about boeing, jumping about 3.5%, and with risk back on for the moment, no surprise, it's the safety issue. not just trade, the safety trade, u.s. treasuries are not the cool kid on the block right now. prices falling, yields rising, look at the 10-year yield, up 10.3 basis points or 1.78% after hitting a 3 1/2-year low. complete opposite sentiment right now. the new minneapolis federal reserve president neel kashkari couldn't scare off the bulls or buyers. he said in first federal reserve speech today that the big banks should be broken up. sliced and diced. some too big to fail, in a nod to taylor swift and grammy win, financials are taking off with goldman sachs and morgan
3:04 pm
stanley moving higher, is the rebound real or just a bargain-hunter bounce? to the floor show, keith mccullough is joining us live. traders at the new york stock exchange, cme group and the nymex, too. first to you, doreen, is this just a basic bargain-hunter bounce? >> i'm not as excited about it as it looks. i should be. this is a very polarized market, opinion by traders and today is a day if you thought there was money on the sidelines that you could use, value created in the techs and the financials, people are doing bargain hunting, we had an oversold condition basically and provided an opportunity for people. if you are on the other side of the aisle, you know, this is an opportunity to sell and wait for the next move down. liz: you're speaking keith's language, aren't you? keith, that's how you expressed in your morning note which i read obsessively, i like you
3:05 pm
will up at 5:00 a.m. obsessing over these things. you said today, these upside moves are a time to take the profits, correct? >> in particular when you are talking about financials, it is a selling opportunity, the worst sector in the s&p 500 for one very basic reason. growth and inflation continue to surprise on the downside. when that happens, interest rates fall, when interest rates fall you sell financials. i am the biggest bull on wall street on the long bond, and today something like the long bond or utilities, you get a buying opportunity in things like that. liz: let's be clear, you said the long bond, the u.s. dollar and the long bond is no longer the 30-year. the dollar and utilities, larry shover, what flows are you seeing? seems like the bulls are back today, but does, that's venlast? >> it's a great question. it will last a little bit.
3:06 pm
seems like the techs doom and gloom fraying at the seams, may have started friday when dudley came out and didn't mention negative rates. china, a country not going to stand by and let currency fall down as much as people think they are, opec at least talking about production cuts and then we have deutsche bank restructuring debt to keep the ease. it's a healthy bounceback, fear itself is a fundamental in the market, and that's not anything to take lightly. it has been a fundamental, and that's coming down ever so slightly right now. liz: well, i find the oil situation almost not laughable but jeff grossman to see that even these headlines that are so questionable out of opec, and the big one that came out in case you are under a rock today, we need to you watch fox business, saudi arabia and russia said we will cap, not
3:07 pm
cut, but we will freeze output. of course, they're freezing it at record highs. last week of output. >> this is a band-aid over a gaping wound. let's look at it from -- better safe to say look at news like that. shows a change in the outlook by producing nations and few of the other countries may fall in line. this is a long-term lose if you have to look at here from the markets settle back and let's say regroup and work its way higher. few things have to happen now, demand must increase. i think it will, i have a feeling we'll have a monster driving season this year. everyone is happy about the gas prices, you've got everyone buying big cars. you can't sell the subcompacts anymore, it's a trend that may be starting. liz: keith, are you bullish at all? jeff outlined a couple of reasons that seem legitimate when it comes to future demand for oil? >> it's been one of the great narrative fallacies of wall
3:08 pm
street that low oil prices are going create magical demand. the reality is we're at the end of u.s. economic cycle. you should be selling the u.s. consumer, selling autos and nahb, the housing survey told you for the fourth consecutive month that housing confidence has slowed. things that look good three to six months ago now look not so good and three to six months from now, they'll look bad. that's what i'm staying with. liz: i'm pretty sure, jeff is maybe a ranger fan, i imagine larry you are a blackhawks fan, keith, are you bullish on something? >> i'm bullish on bonds, bullish on utilities, bullish on caps. >> been a good year for that stuff. liz: a little disagreement, a little heat. greet to see all of you, doreen, jeff, larry and keith, great to see all of you. president obama took the
3:09 pm
so-called family portrait of leaders in rancho mirage, california. this is a huge business story. major players at the summit include the ceos of microsoft, ibm and cisco. so why are they there? they joined in on the discussion to help emphasize how important it is, crucial for the u.s. and southeast asia to strengthen commercial and business ties. but not just trade, tension is on the table, the situation in the south china sea took center stage today. what was discussed? what can we expect to hear from the president at his news conference in the next hour. blake burman has the details. i find this faux island, artificial island story fascinating, too. >> president obama and counterparts from the 10 southeastern asian countries join to talk about the largest influence in the region, china, who was not represented at the summit. much of the talk about china's
3:10 pm
buildup in the south china sea, includes seven artificial islands along with airstrips. china made claims to the water way, so too have other nations like vietnam and the philippines who are at the conference, while the obama administration has spoken out against the chinese buildup. we got a little preview yesterday from president obama. he spoke about resolving problems through peaceful measures. >> here at this summit, we can advance our shared vision of international order where international rules and norms including freedom of navigation are upheld and where disputes are resolved through peaceful legal means. >> reporter: one of the big issues there, liz, we should point out there is a news conference. so the president will be taking questions from reporters. it is highly likely that president obama is asked about the nomination process in replacing the late justice antonin scalia. he also could talk about -- touch upon business issues that
3:11 pm
many are watching like the 12 nation transpacific trade deal and the administration officially signing the deal today to open airwaves to cuba. president obama will head back to d.c. tonight. liz: a live picture of the podium. the minute the president gets up there, we will absolutely take that shot. blake, good to see you, thank you very much. as they prepare for that speech, much more on the president's so-called asia play and what he expects to accomplish there coming up. the closing bell, we're ringing in about 4 minutes, as we mentioned already, boeing among the dow leaders today. we only have two laggards and walmart is one of them, i believe. so mostly green on the screen here. the aircraft maker certainly for boeing, why is it on the top? it hopes to secure at least 850 new aircraft orders from india. good enough to pop that stock by 3.33%. you heard blake burman
3:12 pm
mention the president may bring up this well. the fight over justice scalia's spot in the nation's highest court is exposing some supreme hypocrisy in the capitol's political circles. what he believes absolutely should or should not happen next. you've got to hear what he has to say. he's the judge. more "countdown" coming your way. stay tuned.
3:13 pm
this just got interesting. so why pause to take a pill? and why stop to find a bathroom? with cialis for daily use, you don't have to plan around either. it's the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions
3:14 pm
and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. why pause the moment? ask your doctor about cialis for daily use. and for a $200 savings card, go to cialis.com every auto insurance policy has a number. ask your doctor about cialis for daily use. but not every insurance company understands the life behind it. ♪ those who have served our nation have earned the very best service in return. ♪ usaa. we know what it means to serve. get an auto insurance quote and
3:15 pm
see why 92% of our members plan to stay for life. perfect driving record. >>perfect. no tickets. no accidents... >>that is until one of you clips a food truck, ruining your perfect record. >>yup... now, you would think your insurance company would cut you some slack, right? >>no. your insurance rates go through the roof. your perfect record doesn't get you anything. >>anything. perfect! for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claim centers are available to assist you 24/7. for a free quote, call liberty mutual at switch to liberty mutual and you could save up to $509 call today at
3:16 pm
see car insurance in a whole new light. liberty mutual insurance. . liz: we've got some breaking news right now with the markets 45 minutes away from closing, we still are holding onto significant gains. here is the real breaking news, the supreme court is draping the chair of late justice antonin scalia in black today to mourn his death following a supreme court tradition that has existed since the 19th century. it has just been confirmed that the funeral for justice scalia is firm, it has been set for this saturday. but has this battle over pointing his replacement become a case of supreme hypocrisy? the war on capitol hill is heating up. heating up? it's boiling over and enflamed as to whether the process should be delayed until the next president is elected. democrats are saying it is only fair for the current president
3:17 pm
to make the appointment but the democrats didn't always feel that way, senator chuck schumer argued in 2007 that a president should not be able to make the appointment in his final year. guess who was president back then? a republican, george w. bush. and seeing the switcharoo on that one. bringing in former judge alberto gonzalez to talk about whether there is delay for supreme court appointment and how you feel this should go forward? first, is there a legal premise for delaying it until a new president is named? >> the president does have the authority to do nothing, i think that would be a mistake. i think if a vacancy occurs on the u.s. supreme court, the president has a duty and the responsibility to nail vacancy, at the time of his choosing, when he believed that he's identified a qualified candidate, he should make the nomination and it's up to the senate to decide what it wants to do. it controls its own calendar and the senate leadership which is in the hands of republicans can decide whether or not they
3:18 pm
want to delay on hearing or delay on a floor vote, so again, the president has a job to do, and once the president does his job, it's up to the senate to do its job at a time of its choosing. liz: and you served under a republican president, so that almost gives you more credas far as i'm concerned, you are behaving as a judge would or should behave. as we bring it up, the supreme hypocrisy we were talking about on the morning news, chuck schumer said back when president bush was president, nope, we should wait. now have you harry reid, obviously, a democratic senator, he wrote an op-ed that appeared in the "washington post" today where he flat-out said that the gop should allow president obama to appoint justice scalia's, quote, replacement calling the opposition partisan obstruction, but let me flip to mitch mcconnell, back in 2005, you could rewind to that when he simply said the constitution
3:19 pm
is at stake, article 2 section 2, the president and the president alone nominates judges and now mitch mcconnell is saying hold off. this makes people lose faith in d.c. [laughter] >> well, this is a very political process. the process of confirmation. again, i wish it weren't so because what i worry about is that the practice of judging becomes politicized, but so long as we keep it on the confirmation side, we can live with it, that keeps people to throw their hands up in disgust. you see obstruction by both sides when it is appropriate. liz: when it's convenient for them. the republicans would be obstructionist in any president obama support here of any name, i'm not sure of that. they're the ones saying just wait. so this wait to nomnashth the purists, i'm assuming you're one of them, might conclude that that is in and of itself
3:20 pm
disrespectful to scalia's memory. he was a strict constitutionalist and if you're going by section 2 article ii says the president nominates the supreme court justices? >> listen, i'm not saying president obama should do it, what i'm saying is he has the authority to do it and believes in his judgment that he's identified the appropriate candidate, then nothing should stop him. go ahead and make the nomination. the senate has consulted and provided advice but nothing prevents him under the constitution from moving forward. it is totally in the hands of the senate to decide whether or not it wants to hold hearings and have a floor vote. liz: which brings us to, this there are a bunch of senators up for re-election, pitched battles among them. we could put up the list, ron toomey, pat johnson and if the democrats say pour all the money into those battles, if the senate could turn them, in they may get a much more liberal judge than they might get if president obama can get
3:21 pm
-- the name floated is the d.c. u.s. court of appeals judge who has great pro business credibility. maybe they this allow it. >> it is up to president obama who he nominates, which i anticipate he will, it could have effect on senate elections this fall. the republicans need to be careful how they approach this, and perhaps better not to make a big pronouncement at the death of justice scalia and allow business to proceed as normal. liz: do you have a pick? somebody you think would be wonderful for this? >> the people on my short list are not on president obama's short list. we have different views who should go on the court. >> i hear you. you have a solid view of being a constitutionalist. judge alberto gonzalez, former u.s. attorney general. closing bell about 39 minutes away. we have chevron and exxonmobil
3:22 pm
up slightly now, but that's a bigger story when it comes to oil which had fallen today. among the laggards, energy market trying to sort out opec's frigid production deal, we're putting jeff flock deep into the pits of the cme to explain what's going on moment by moment. and -- ♪ take it easy >> among my favorites. the eagles reunite to pay tribute to glenn frey. taking it easy on the grammy stage as cbs equals big ratings. glenn frey, rest in peace, "countdown" coming right back.
3:23 pm
♪ i don't want to live with the uncertainties of hep c. or wonder whether i should seek treatment. i am ready. because today there's harvoni. a revolutionary treatment for the most common type of chronic hepatitis c. harvoni is proven to cure up to 99% of patients who've had no prior treatment. it's the one and only cure that's one pill, once a day for 12 weeks.
3:24 pm
certain patients... can be cured with just 8 weeks of harvoni. with harvoni, there's no interferon and there are no complex regimens. tell your doctor if you have other liver or kidney problems, hiv, or other medical conditions, and about all the medicines you take including herbal supplements. taking amiodarone with harvoni may cause a serious slowing of your heart rate. common side effects of harvoni may include tiredness, headache and weakness. i am ready to put hep c behind me. i am ready to be cured. are you ready? ask your hep c specialist if harvoni is right for you.
3:25 pm
3:26 pm
♪.
3:27 pm
liz: okay, yeah, that wasn't us doing the popdown of the sound, adele had technical problems, people saw the technical problems, huge ratings for the grammys. adele tweeted afterwards that the microphone fell into the piano strings behind her which accounted for the strange buzzing that overtook her vocals, and what about the part where she was a little pitchy dog? blame the audio guy? we do not do that here. justin bieber's performance having noticeable sound issues but not everybody suffered last night. taylor swift opened the show walking off with album of the year award. she did unbelievably well, took a swipe at kanye and said i and
3:28 pm
i alone are responsible for my success. the broadway musical hamilton killing it! a live performance on the new york stage just a few blocks from here, they used opening number about the life and death of alexander hamilton, i have to mention my fellow ginger ed sheeran picking up song of the year award for hit song thinking out loud, which is the wedding song. stock jumping 4.5%, bruno mars won record of the year. so really a true difference or just the music industry's way awarding song of the year and record of the year. i know the difference. see if you do. tweet me@liz claman or go to lizclaman.com for the links. some of the performers were slightly pitchy. we blame the audio guy. we support our audio guy! >> yeah!
3:29 pm
>> rob, that's my guy. bobby! who's lumber-sexual today, i love that outfit. lumberjack outfit. saudi arabia forging agreement with other opec nation and russia to freeze possibility of higher oil production, i didn't say cut, i said freeze. how much does this agreement really matter? freezing output at record levels in the case of russia and near records for saudi arabia. guess what? we told you last week not to expect a real cut in production from the saudis. that's what one of our guests say. >> everybody expects saudi arabia to carry the big weight and cut its own production unilaterally. that obviously did not fly at all, and saudi arabia is increasing production to force opec's hand. liz: you got to listen to us, not opec. jeff flock in the fits of the cme where, u.s. crude is plummeting.
3:30 pm
market's not believing them known, right? >> pretty much not. i'm over in the s&p pit, liz, because usually stocks and oil have run in lockstep. stock's up, oil down, it was up early, if you look at the-week chart, you can see the blip up earlier in the day where there was hope about that meeting. as high as $31.53 before we closed down to $29.04 higher in the after-hours, a little bit. put some numbers behind what you just said, reality set in, that's why the price came down, take a look at the price production numbers for opec in january. up 280,000 more barrels, freezing at january levels, increased production in january to 32.5 million barrels a day, amazing amount. russia, as you said, all-time record production in january. in 2015, they cranked out 10.8 million barrels a day. we got way too much oil but the
3:31 pm
market as you know, liz, every time we get an agreement or meeting or alleged agreements, the market does for a time jump higher, and i would say the positive thing to leave you with, if you want higher oil prices is they're at least talking, at least meeting. four nations on board, may come to nothing. they may say it's never happening. now we'll see. liz: they're not desperate enough now. keith mccullough was saying sell on any rally on oil. he is so not a believer here. >> reporter: i hate the naysayers, i wish people are more positive, don't you? liz: okay, john kasich. >> exactly! >> he's your guy. jeff, great to see you, thank you so much. jeff flock. closing bell, 29 minutes away, and about 60 minutes away from president obama and his live news conference. what's being said as he meets with southeast asian leaders? well, china is the center of
3:32 pm
discussions and china isn't even part of the so-called ttp. so the pivot to asia is proceeding as planned? and hillary clinton getting quite wild on the campaign trail, letting loose her inner junction yard dog as bernie sanders closes on in nevada. george allen and dennis kucinich on why her bark is almost as dangerous as her bite or not? that's next on "countdown." >> we need to get that dog and follow him around, and every time they say these things like, the great recession was caused by too much regulation -- [ barking ] . that may put you at five times greater risk of stroke - they can pool together in the heart, forming a clot that can break free, and travel upstream to the brain where it can block blood flow and cause a stroke. but if you have afib that's not caused by a heart valve problem,
3:33 pm
pradaxa can help stop clots from forming. pradaxa was even proven superior to warfarin at reducing the risk of stroke, in a clinical trial - without the need for regular blood tests. and, in the rare event of an emergency, pradaxa is the only oral blood thinner other than warfarin with a specific reversal treatment to help your body clot normally again. pradaxa is not for people who have had a heart valve replacement. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke or blood clots. ask your doctor if you need to stop pradaxa before any planned medical or dental procedure. pradaxa can cause serious, and sometimes, fatal bleeding. don't take pradaxa if you have abnormal bleeding. and seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have kidney problems, stomach ulcers, a bleeding condition, or take certain medicines. side effects with pradaxa can include indigestion, stomach pain, upset or burning. don't just go with the flow. go with pradaxa,
3:34 pm
the only blood thinner that lowers your risk of stroke better than warfarin and has a specific reversal treatment. talk to your doctor about pradaxa today. thanks. ♪ [ male announcer ] fedex® has solutions to enable global commerce that can help your company grow steadily and quickly. great job. (mandarin) ♪
3:35 pm
cut it out. >>see you tomorrow. ♪ weinto a new american century. born with a hunger to fly and a passion to build something better. and what an amazing time it's been, decade after decade of innovation, inspiration and wonder. so, we say thank you america for a century of trust, for the privilege of flying higher and higher, together. ♪
3:36 pm
. liz: these are live pictures side-by-side, bernie sanders is in charleston, south carolina.
3:37 pm
ted cruz in columbia, south carolina. both are trying to grab attention from the leaders in the pac that they are dealing with. hillary clinton for bernie sanders and donald trump for ted cruz. this is heating up. i'm joined with george allen along with dennis kucinich, also a fox news contributor, both are exclusive to us, and i love your opinions, gentlemen. get right to it. ted cruz, do you expect he will dane to respond to what donald trump has tripled down on, first with this weekend and maria bartiromo on fox business and just a few minutes ago he said ted cruz has a, quote, mental problem, and that he's going to sue ted cruz. to you first, governor allen? does ted cruz even attempt to deal with this? >> i think he will, and they have been. they've been going back and forth, not just in the various press conferences and rallies.
3:38 pm
you saw them going after one another strongly in the saturday night debate as well, and then also trump and jeb bush as well. so there's a lot of sparks and insults flying back and forth. they're all avoiding what i said when i endorsed marco rubio last month on your show to follow reagan's 11th commandment. that's been torn up and shredded and ignored. a lot of this is not particularly helpful in that i think most voters want to know what you're for? what are your ideas to improve opportunities for young people in this country in this interconnected world? and you have donald trump saying george bush is responsible for 9/11. and i like donald trump, and he's a friend, but my goodness saying that is like saying fdr is responsible for pearl harbor or james madison responsible for the burning of the white
3:39 pm
house in the war of 1912. liz: congressman, to you, looking at bernie sanders and the attention he's getting. he has been very clear about where he stands, articulated very clearly most of what he believes in, and doesn't seem to be losing velocity either, we have video of a huge crowd he was able to draw in colorado within the last 24 hours. 18,000 people seemingly showing up. does that translate to votes? >> it does, the economic message that bernie sanders is carrying forth is resonating with voters across the country, whether it's the rally you refer to in colorado or nevada where bernie sanders has closed the gap between himself and hillary clinton. you're seeing people responding to a strong economic program that's spelled out. liz: well, south carolina, is
3:40 pm
pretty much a reliable crystal ball, isn't it governor? accurately predicted the republican nominee for the past 36 primaries, minus one moment. >> last year. liz: that's i believe newt gingrich over mitt romney, but it's no longer bush country supposedly, if you look at polls, donald trump appears to be leading at this moment? >> and he is leading in the polls. marco rubio is coming up. he had a strong thoughtful debate, and i think marco is doing well. the polls i've seen have him in second. liz: and you've endorsed him. >> as i said, and they're getting good sized crowds listening to him as people listen to ideas on how to address the challenges, positive constructive message that can unite republicans and get independents and folks who normally don't vote republican on our side, i think is resonating. but this election year, liz, is like no other. donald trump's generally
3:41 pm
defying political gravity. the criticism of ted cruz has come from donald trump and bush and marco to some extent too, but i think it will give momentum into the big, important march 1st primaries including that and virginia. in that poll in virginia that came out this morning, trump's at 28, rubio at 22. liz: gaining. >> and high negatives for a lot of the candidates, but not marco. liz: and hillary clinton some would argue has high negatives, dennis, and she also is doing well today, she was meeting with race leaders, al sharpton, national urban league president, naacp, trying to attack that issue of race and racism. she wants the black vote. if she gets it, is the nomination hers? >> it gives her a real advantage towards a nomination. south carolina will demonstrate the strength that hillary clinton has among african-americans, and i think
3:42 pm
it wouldn't take a genius to predict that it looks like she will win south carolina and by a big margin. she will need that to go into super tuesday where again, the black vote can be very persuasive in the outcome of a number of states. >> so great to have both of you, you've been through many campaigns yourself, your perspective is valued. george allen and dennis kucinich, thank you. >> thank you. liz: keep it here for all of your 2016 election coverage. weekends, nights, mornings, middle of the night, we're live. because that's how you run a network. live saturday february 20th for the south carolina primary and nevada caucus. our coverage starts at 6:00 p.m. eastern, do not miss it. closing bell 18 minutes away, look at these markets, the dow is up 196. the russell charging ahead. hit session highs, small and mid caps coming along for a big ride here. conflict on the high seas,
3:43 pm
in less than an hour now, president obama will address the allies in southeast asia, as he attempts to quell disputes over china and things like territory and artificial territory that they're making as we speak, are we really heading for a global trade deal or war? tension on the high seas, coming on, when "countdown" comes right back. stay tuned. i thought i married an italian. my lineage was the vecchios and zuccolis. through ancestry, through dna i found out that i was only 16% italian.
3:44 pm
he was 34% eastern european. so i went onto ancestry, soon learned that one of our ancestors we thought was italian was eastern european. this is my ancestor who i didn't know about. he looks a little bit like me, yes. ancestry has many paths to discovering your story. get started for free at ancestry.com [martha and mildred are good to. go. here's your invoice, ladies. a few stops later, and it looks like big ollie is on the mend.
3:45 pm
it might not seem that glamorous having an old pickup truck for an office... or filling your days looking down the south end of a heifer, but...i wouldn't have it any other way. look at that, i had my best month ever. and earned a shiny new office upgrade. i run on quickbooks. that's how i own it. perfect driving record. >>perfect. no tickets. no accidents... >>that is until one of you clips a food truck, ruining your perfect record. >>yup... now, you would think your insurance company would cut you some slack, right? >>no. your insurance rates go through the roof. your perfect record doesn't get you anything. >>anything. perfect! for drivers with accident forgiveness,
3:46 pm
liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claim centers are available to assist you 24/7. for a free quote, call liberty mutual at switch to liberty mutual and you could save up to $509 call today at see car insurance in a whole new light. liberty mutual insurance.
3:47 pm
. liz: 13 minutes before the closing bell rings, guess what? tesla is jumping more than 2 1/2% as it ramps up the launch of new model x. the big story is in chicago they're allowing the ultimate tesla t's, anyone who plunked
3:48 pm
down $25,000 to reserve a model x gets to test drive the car for 19 minutes or something? if you go to chicago. now you have to pay for the ticket. this is how amazing this whole car story is when it comes to tesla. people are so into owning this car, they will put down $5,000 for a car they haven't test driven yet. now they get to in chicago. you only get 20 minutes because so many want to test drive it. the stock up 2.5%. elon musk says china will be his biggest market in the next couple of years. speaking of china, the south china sea taking center stage ever the association of south asia talk. what are you looking at on the screen? the before-and-after, where they are building up their military and building those fake islands. they're backing and filling. bringing in landfill to create islands. guess what? now the whole what's supposed
3:49 pm
to be a business meeting is turned into diplomatic attempt to find a solution to the maritime disputes where china and several other states have conflicting and overlapping claims. china historically said it's got a right to the south china seas, we're building seven artificial islands. is this a trade story or trade or tension story and what can we expect to hear from the president in a short few minutes? he will take live to the podium at rancho mirage. joining me is policy adviser for international trade, eric shim. good to have you here. and the trade talks with china, is it about trade or about the tensions? >> hi, liz, thanks for having me on. liz: sure. >> the talks with the ten leaders from southeast asia are about both. asian is vital partner in terms of security partners as well as vibrant market with 500 people
3:50 pm
whom the united states trades and singapore, malaysia, vietnam are members of the trade agreement, the trans-pacific partnership agreement which was signed a few weeks ago by the united states, it's politics and it's economics. liz: politics and economics, but then explain to viewers why they should care beyond an artificial island that they may never see or be a part of it all. look, you're going to see better trade when it comes to biologics, when it comes to milk imports and exports. where is it going to pay off for america and the united states? >> the trans-pacific partnership trade agreement is between the united states and japan. liz: not china? >> not china yet. china is working on a competing trade agreement with a number of other nations, but if you're looking at major market openings for the united states, we'll certainly see benefits for all of our services, exports, financial services, it
3:51 pm
is a major win for the u.s. agricultural community in terms of new access to japan's market as well as the other 11 nations we have not enjoyed before. all in all, by the time the agreement is fully implemented in 2030, americans should expect in the aggregate, income increases of as much as 130 or $140 billion. we'll see investment among those countries increased, inbound investment is projected to increase half a trillion dollars and outbound investment because they're growing will rise up to as much as 300 billion. liz: we'd love to see that, actually seeing the reality of it happen may be far away. will this pass? you had the speaker of the house, paul ryan saying on sunday morning futures on fox news, he's not sure the votes are there, though he's supportive of it. >> the speaker is right, the votes are not there either on the republican side or the president's own party. it's ironic, president obama
3:52 pm
when campaigning for office years ago was critical of u.s. trade policy and over the course of his administration, taken strides to make improvements. now it's up to him to make the biggest sell on trade of his career. liz: to his own party. >> to his own party. the heaviest critics are certainly within the democratic party, plus we have the enormously unhelpful timing of a presidential campaign and national congressional election year as well. so you have almost all of the candidates on either side are against the agreement, and you have members of both parties in the congress responding to popular concerns regarding the impact of trade on jobs, so we are not likely to see a vote until a lame-duck session until after november. liz: i'm seeing the word gridlock. >> that's a good word. liz: great to see you, eric. thank you for explaining this to our viewers, the former
3:53 pm
director of asean and korean affairs. keep it right here for president obama's news conference. that summit is in california. it happens "after the bell." 4:35 p.m. eastern. we're coming right back. dow jones industrials holding onto gains of 188 points.
3:54 pm
. . . .
3:55 pm
3:56 pm
liz. oh, boy, here we go. we're up 203 points. heading closer to the highs of the session. the number we want to hit 221 when it comes to highs of the session for the dow. adam shapiro at new york stock exchange. adam watching stocks move on big news. adam. reporter: lot of stocks to keep an eye on. check out yahoo!. yahoo! is having best day in two years. thanks to warren buffett. streaming live on yahoo! finance on april 30th. you've been taub about boeing. boeing is leading dow higher. they delivered the 100th dreamliner. don't you love the new plane
3:57 pm
smell. they are expanding 787 production in the south that is good news. adt being bought, 6.9 billion, apollo global management. walmart, not so much a loser, fact they have earnings report on thursday. a little bit of caution on thursday. back to you. liz: new plain smell doesn't last as long as new car smell. adam, thank you. russell is charging ahead as we head into the last few minutes of trade on this tuesday. investors want to know, is this real deal, or just a pause in the latest leg down? let's bring in mark lehman. stamford, connecticut, president of jnp securities. mark, to you. tell us three factors, looking as signal to you, this time it's a real rebound? >> yeah. it is hopefully one of the factors. one which is kind of self-fulfilling the market has to stop going down. we're seeing that today.
3:58 pm
we held the august lows a couple of times here. i think that is important test that we passed. so the stock market is up above 5% from february 11. that is a good test. the second thing i think market has to stop seeing oil go down every single day. market stopped trading. it decoupled. when oil goes down, i think it will stop too. fund flows out of equities have been going on for now three months. i think as you start to see those accelerate, tells you we had capitulation. when we see the capitulation, that is a big buy signal. i think we're getting close. i think we're near end of all is bad scenario. i don't think that is the case in the market. liz: when you see buy signal and celgene and marketo? >> that is a mid-cap software services company. the stock is down 50% this year, that's right, 50%. they slightly missed their revenue targets in their current quarter they just announced but
3:59 pm
this is a very good company trading less than two times revenue. as growth stocks go, this is when you look at software names. this where the stock is trading. facebook is putting up stellar fourth quarter. that is stock you want to own. celgene where it was 18 months ago despite revenues up 50% is one of the best plays in oncology. that is another large cap stock you can own for the future. i think you will do quite well. liz: we'll put up all the names on facebook.com/liz claman. the three things you have to see in tandem before the rebound is real. we don't have oil stopping its fall, that's for sure. thank you for joining us. >> thanks, liz. liz: listen, i would choose at this point san francisco over stamford, connecticut too so. he was actually in san francisco, the site of the san andreas movie. i saw it yesterday, david and cheryl. i'm a little late but it was awesome. david: i would rather be in san diego. thank you, liz. good stuff. >> thank you, liz.
4:00 pm
battle for the vacant supreme court seat is heating up. president obama taking questions from the press this hour about his timetable for putting forth a nominee. a move that will spark a firestorm of criticism from republicans who say they should, that we should wait and that should be the next president's job. david: speaking of the next president, attacks continuing on campaign trail. [closing bell rings] four days away from south carolina primary r ed rollins, dan henninger. we have it covered. first look at markets. s&p is up more percentwise. up 2.25%. oil is down. that usually means that the oc

22 Views

info Stream Only

Uploaded by TV Archive on